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tv   Countdown to the Closing Bell  FOX Business  June 5, 2013 3:00pm-4:01pm EDT

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to the closing bell" starts now. ♪ cheryl: i'm cheryl casone in for liz claman. it's the last hour of trading, and it could be an ugly last hour of trading. the dow right now, we are down a good 183 points, and we're off session lows, were down 200 appointments earlier, but, still, a percentage drop of more than 1 mlgt now, one and a quarter percent on the dow, trading in the red on a percentage base as bad off as the dow is. keeping op track for you in the last hour, of course, and now there are the -- there is the feds report that the markets are down despite the fed's report which the economy is growing in a modest to moderate rate. the beige book, as it's called, released eight times a year, based on antedoal information from the economy gathered from 12 # federal reserve banks.
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that report, though, not helping out. get the answers to the floor show, traders standing by at the new york stock exchange, the cme group, and, plus, we have nicole standing by on the floor of the new york stock exchange. we'll get to her in a moment. first, the traders, you know, this is one of the trading days where it's hard to make sense of why the market is under pressure. you'd think with the adp report, doreen, that markets react positively because that means the fed is going to continue to back the markets. what's going on? >> well, i'mmnot sure. see, that's really where we have this conundrum. half traders think the fed staying here is good, and the other half think staying here is not. we have a weak economy. obviously, today, the market is on the side of the feeling we have a week economy. the overall news so far this week is not good from china or europe and adp not looking good the rest of the week for initial
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jobless claims and numbers. i think today is going to be one of the days with a glass half empty, obviously, the rest of the day, breaking key levels, breaking 15,000 rather in the dow. all psychologically, there's no reason to buy stocks. cheryl: could this be good old profit taking on the other side because it's not a clear economic story today. it's not a clear data story to read, that this is taking profits up, not a bad thing. >> well, i think that's been going on every time we see the market pop. we see people selling off, and every time it comes in like this, we find a level, and you see money flowing into the markets in certain stocks. it's very much a stock pickers' market, but markets like this, there are purchases, and people want to buy the stocks. cheryl: kevin at the cme, talk about key support levels for the s&p. we are certainly getting report levels that i know are your watching and others are watching. are we going to breakthrough the barriers for the s&p?
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>> 1610-1600 look like good support levels now, and, certainly, momentum looks like right now could go down there and test the levels, and i think the previous guest hit on key points, and that's certainly the debate that's going on in public amongst officials about how long qe goes on, and if we continue to see that type of debate and continue to hear more voices talk about pull back in qe and asset purchases on a month le basis, that gives us fuel to breakthrough the key support levels, but right now, as we continue to see that debate play out in public, i think you're going to see more volatility, probably trading in a range testing support levels and moving up and down within the key resistance. cheryl: volatility, we've seen the vix at highest levels today as well, and go to the imex, and, jeff, we got inventories out today r and there were losses on the numbers there. anything that stood out in the report this morning?
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>> today, the adp numbers had a number in stocks, reaffirmed by iea. they were ready to move up, through there was resistance at 844.5, and then once the stock market laid on top of everything, the market drifts back here, still in the downward trend now, and unfortunately, the market is a sell on, rallies until further notes, we held support yesterday, market looked to build a base making an attempt. it has to settle above 95 and a quarter to refuel break out of the trend, and it doesn't look like it's going to do that in the near future. cheryl: back to the new york stock exchain. maybe you don't sub vibe -- subscribe to this, the dow 15,000, the psychological mark, closing below 15,000 today, does that set the tone or just a one-day blip? >> right now it's 1998 # 7.
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-- 14978. if we close slightly below, it's not a big deal. it's not a human panic selling situation. i think you're going to see bottom pickers tomorrow. cheryl: ohing i love that. thank you very much. gentlemen, thanks to you as well. bringing in nicole on the new york stock exchange floor with more, and you are looking at financials, which as you know, nicole, thee sector of 2013 so far. >> right. cheryl: how are we doing today? >> right. they are obviously economically sensitive. both goldman sachs and jpnorgan down 2% each. they paint the picture we see today. it's the mark down over 2 # 00 points. a couple things worth noting, obviously, the vix, the fear index to the highest levels, the highest since 2013. reversal on may 22nd,ting that stocks hit intra-day highs and
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reversals to a lower low, down 2.5% since that point. that's a bearish sign. another thing to look at is overall facts that we really have run up fast. the one thing to note, fred hat, the one name in the s&p 500 with a 52-week low. despite the fact we sell off over 200 appointments, yao not seeing a ton of names hitting 52-week lows. it's not an atrocious day on wall streetment on the contrary, it's a day the market pulls back to talk about the fed and jobs. that's what we see. bank of america, didn't leave you hanging, down 2.5%, a loser on the dow jones industrials. back to you. cheryl: all about the banks. nicole, thank you very much. see you soon. from banks to a name you know well, and that is apple. this stock is certainly down today after samsung won a major court victory against the company stemming from a key pa tent claim that could prevent apple from selling iphone4's and ipad2's.
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liz macdonald has the story. liz, we talked about the fact maybe the government shouldn't be involved in this in the first place. >> good to be with you, checial. that's right. apple under pressure in trading today as well as at&t and the big debate in tech world is whether or not the international trade commission should have been involved in the ruling. the big fight now that we're hearing about is whether or not samsung should have taken the complaint just to the courts and whether or not samsung's old shareholders get hurt because samsung is basically going to have to fight it out in the court system anyway. apple has 60 days to appeal this. they could take it to the federal appeals court. they are saying they plan to appeal this decision, and so what this does is it blocks the imports of older iphones, the iphone4 and iphone3. it does not affect iphone # 4s or 5 or wifi ipads.
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they say, listen, apple has taken, quote, a free ride on the innovative technology, but the question remains where do we go from here? these two have been really duking it out big time in the court system. we've got apple also breaking news coming out too, cheryl. apple has the worldwide developer conference next week promising, quote, a whole new world meaning we could see a reboot of apple's computers and maybe an integration of the siri virtual assistant into other apple products beyond the iphone. watch that development too. that may be helping out the stock as well today, cheryl. back to you. cheryl: i'm still waiting for apple tv. >> that's right. cheryl: rumored for years now. i would love to see an apple television. they could rock that, couldn't they? >> great point, whether or not apple tv is on the horizon soon. so far, word on the street,
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cheryl, only seeing a reboot of the computers including the pro, and the integration of the siri beyond just iphones. back to you. cheryl: a big apple computer. liz, thank you so much. >> sure. cheryl: closing bell rings in 50 minutes from now. chrysler says it will not comply with the government recall of 2.7 million vehicles. is that going to hurt the brand, or is that going to help the company? we'll talk about it next with one guest. plus, executives, they are fleeing from google wallet as the division changes course. where are they going? to work at this, mobile payment company, brain tree. coming up, we'll talk to the ceo, bill ready, about what's making the company a big draw. google people even go to him. we'll talk about it. ♪
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we went out and asked people a simple question:
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cheryl: power mover of the hour? mattress firm, mfr, and look,
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the stock up $2.51 right now, hitting a 52-week high. it's a gain, 6.7% on the company, all about a good ma stress, suspect it, when you think abt i? the reprd ofrtae fstqarer aftr theell yesterday. piper, upside in the stock, shares up more than 53% year to date. life changes if you have a good ma stress. life changes if you have good food to eat, take a look at the grain contracts right now. the weather's warming up, and the forecast right now are predicting a strong planting season for the farmers out there meaning at least jeff flock is on the case he's at thece wh rd reaionto tht, jeff? >> can you hear the reaction? can you hear that, cheryl? cheryl: no. >> me either, it's quiet. oil, though, we had a tip off from the report yesterday, so
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the contract didn't do much. it's up about 50 crepts or so. supplies down, traded up a quarter today, but, you know, a quarter personality, i should say, but that's not much either. it was trading higher earlier in the session. gold flat, up a quarter percent as well, no action on the fed or anything else. back to the grains. that's all that had any kind of movement at all today. that's the grain room in the distance. quiet in there. if you look, though, at the front month of corn, up today a little bit, and the hair vegs -- harvest month, december corn way down because of the nice weather, rain, the crop in the ground is good. the soybeans, however, they are a little worried about the soybeans because this more rain in the forecast maybe some have not got planted yet, and may not get in there. that's all the excitement i have in the field at the c measuring e today, cheryl. cheryl: the fields of the cme, and that place is usually
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popping. jeff, thank you very much. i heard a couple crickets maybe. chrysler group, another company jeff knows well, is defying a government request to recall 2 #.7 million vehicles. the company claims the models are safe, but is that enough for the auto maker to keep driving sales' growth? richmond, an equity analyst at morning star. richard, thank you for being here. you know, curious off the bat, was it a good idea for chrysler to basically ignore or reject a recall? i mean, we just don't hear of this happening with auto makers. >> we had one happen with ford a couple years ago, imu it usually doesn't play out well for the auto maker. you know, when there is a lot of difficulty with a recall or there's a highly publicized recall, a lot of times it turns out to be a good buying opportunity for investors. yeah, it's a little early to tell at this point. it's going to depend on how it plays out in the media. is it going to be a case of
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chrysler not paying for something they should or wind up perceived by the public as an overzealous government agency hammering on a business that is really doesn't zephyr to be hammered on? cheryl: different when we talk both a regulatory issue of a bank against a consumer that's worried if they are going to buy or if they are driving a chrysler vehicle if there's a safety problem or app issue there. do you think this could hurt sales for chrysler because they just reported 11%, just in sales, a nice number, but is that affected going forward? >> yeah, yeah, it could, and, again, it's dependent on how it's perceived, and, obviously, you know, chrysler's saying things like the national highway transportation safety administration data was not correct, conclusions incorrect or incomplete saying, look, we recalled over the last three
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years, recalled 51 # vehicles, 49 of which we did of our own accord, and we notified. we are out on the forefront of taking care of the customers, but in this particular instance, they say the data just does not support that this is a problem with our vehicles. it's not a defect. cheryl: okay. curious what the next moves will be. i'm curious, organization, what you think of him as a leader, and if he's been the right fit along with fiat for chrysler because they want to take over the rest of the company, but, also, what's next for him in the story? does he make another move against regulators with the recall? >> well, when it comes to the recall, there is the policy or procedure that has to be followed, and i believe the next step has to be some hearings between the two unless they come to some kind of agreement prior to the hearings. they bring up the fact that,
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look, this is something that has only occurred, one in something, like, every 1 million years of operation of the vehicles according to their statistics. they'll try to play it as much as they can that they didn't have the right data, but as far as they are concerned, him being a leader for this organization, i think he's done a fantastic job. he's got a great track record of turning around operations, and i think that combining the two, merging chrysler and fiat, doing more global architectures and extracting cost energies because of having higher scale and combination of the two, it's a great move for the company that need it. cheryl: a good move for, you know, the italians and the fellow italian, i salute what he said as well. with you on that one, richard. thank you. >> thank you, cheryl. cheryl: all right, well back to the markets. i wish i could smile about the
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numbers, but it's a rough day. down 200 appointments, below 15,000, and closing bell rings 40 minutes from now. what is twitter bullish about this week? which stocks have the most bullish chatter on twitter? that's after the break. if you are looking for work, apple is planning on hiring more than 7,000 employees in the next three years, check out what the average apple employee makes as we head to break. probably more than you. ♪ ♪ change makes people nervous.
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with ideas, with ambition. i'm thinking about china, brazil, india. the world's a big place. i want to be a part of it. ishares international etfs. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackck. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. cheryl: all right. does the talk on twitter translate into stock performance? downside hedge tracked the stocks of twitter with bullish and bearish about this week. interesting. second place is intel.
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good things trend about the move in the samsung tablets, stock up # #% this week. -- 2% this week. it's been a bigger mover, not today. they are excited about michael kors. the week, stock down 2%, but they are overall the big performer. bears take to twitter too. the stock with the bearish tweets go to google, investors pay attention to the twitter time lines because they are down more than a percent this week. the bad news keeps coming for apple, back to samsung here. the company with the most negative tweets, stock down 1% after losing a patent lawsuit to samsung. big pressure on the stock, and question marks about what the next big thing is going to be from apple. begging for a television apple, come on; rights? all right. years after the dodd-frank act was signed into law, several pieces of the regulatory act yet to be implemented. what happened to the bill and the rule? who else but the guy next to me. >> years after this thing was passed we'd be talking about
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this? this thing is still up in the air. i mean, we talked to dan, the commissioner, said it could take years to implement. they are less than halfway through figuring it out, and the rule is nowhere to be found and people are making it up. it's really crazy. cheryl: depressing, not funny, depressing. >> i know, generally, that's not the way it's supposed to work. sarbanes implemented, this, nothing. they propose scrapping it starting from ground zero, but i think we'll muddle through it. cheryl: talk about dodd-frank, it's affectioning my life in particular, but, you know -- >> how? >> fannie, freddie, selling, buying, and on and on, but i won't. things that dodd-frank, the effect on the banks, they are under what's it going to be? will it hurt me? they are hiring lawyers,
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frustrating. >> trying to figure out how much capital to hole -- hold. capital rules are nailed down. they need certain capital. it's the other rules, what exactly is proprietary training, how do you do it? nobody knows. what we have is regulation by sort of interpretation. what the banks have to interpret what they think the regulators want, and what's intlessing about this, checial, is that you still have the fed and the fcc bickering. that's not how you do this. i spent time talking to mr. dodd at the white house correspondents dinner. he thinks it's fully implemented soon. last week, i believe, they said on the three-year anniversary, like next month, the proprietary trading ban will be figured out. i will tell you this, the ground floor says not even close, it
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won't be figured out by at least for another year, and a key aspect of this is not put into place. this is a fairly interesting story. when you have banks basically interpreting what should be in a law, i mean, that's a recipe -- that's how people get in trouble. cheryl: you mentioned prop trading. you know prop traders that were, and now it's illegal, but a lot of the prop traders went overseas to work for the banks overseas, but they are not having luck there. it's like the entire business -- >> we were among the first to report this. you know, goldman sachs, when it came out, it was one of the most profitable parts of the business, now in hedge funds and foreign banks, mostly hedge funds. what's interesting about prop trading is volker suggests that caused the financial crisis, but if you look at the finance crisis, had little to do with a bank using its own capital and trading on it. cheryl: i agree.
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>> they had losses, but that was with promoting customer business, holding the bonds of customers on their balance sheet, that's for the customers' right? the bonds were toxic mortgage backed securities. what's interesting about this law and they get into in a story my producer wrote. it should be on, is that she's saying that it's a grab bag, you know, banks have to figure out what it is, and they are implementing it. they should scape it, probably won't happen it, and in the meantime, there's confusion. cheryl: kick puppies if you're a prop trader. i totally agree with you. >> i think when you -- listen, he had good intentions; right? saying, here's one risky activity. the problem is proprietary trading bleeds into market making, and you want banks to be
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making markets, buying securities for customers; right? that's the essence of a market. i think that's one of the problems, and that's one of the things they are having trouble interpreting. cheryl: see you friday when i'm back. a big week, rest up. a lot of things happening. >> tomorrow the ftc, and friday, dick grosso in your hour. cheryl: i know, i'm excited. charlie, thank you very much. closing bell rings 29 minutes from now, and dow down triple digits, sorry, 185. we're on it. we'll see what happens. we have this, the battle to capture the mobile payment market heating up with no one taking a clear lead of the we got the ceo of the company that silicon's valley top dog run to, and quit to go to the company. we want to hear from you, ditch your regular wallet for an all mobile wallet? tweet the show @fb ncountdown, and we'll read your tweets later
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>> this is your fox business brief. the bearish streak continues on wall street for a second day in a row pushing the blue chips below 15,000. despite today's steep selloff, only one stock on the s&p 500'ss touching 52-week lows. toyota recalling 240,000 hybrid vehicles worldwide due to a braking problem. miles affected are the toyota previous, alexis, hybrid cars built during 2009. they received 90 complaints from drivers with no reports of accidents or injuries related to the braking issue. and making a play for wall street according to the "wall street journal," the retailers working with banks including jpmorgan chase for
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possible public offering. the timing and evaluation has not been decided yet. now we continue to our "countdown to the closing bell" today with cheryl casone. cheryl: all right, thank you. the two sectors hit hardest today that we are watching materials and financials. nicole is on the floor the new york stock exchange. she is tracking those faccors and a lot more. nicole: i am tracking a lot more. the sectors we are watching so closely. materials and financials so economically sensitive among the worst performers today so let's take a look at some of the material names. already a loser all year long. dow chemical, mosaics, some of the names on the material sector. you turn to financials, the groups that have done so well on a day like today, down over 230 points at the lowest point today. themes in that group, on a day
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we are coming up off of the lows, watching the 15,000 mark. we cannot close below 15,000 since may 6. a big day on wall street. traders taking it in stride. cheryl: the volume, nicole. talking about it at the top of thep&ñ show. making the volatility of little bit easier for all of us. we will keep you standing by. a busy 30 minutes going on right now. thank you very much. we will continue to watch the market, watch the numbers. we want to bring you this story, braintree, mobile and online payment company behind names like ober, living social. not only taking customers from google and paypal, but also taking steps from google wallet. employees like the cofounder are now fleeing to braintree. join me now in a fox business exclusive, ceo of braintree.
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how'd you do it? not just from google wallet, but a lot of the names out there, big technology names are fleeing to you. what is your sales pitch? >> we have attracted talent from a lot of fantastic places. we are endeavoring to go do something very interesting which is to change the way people pay for things online. people use mobile devices at their primary computing devices. they are really looking for a completely different kind of purchasing experience on a mobile or touchscreen device. and many of the best nexgen experiences delivering that are running on our platforms doing something game changing like that attractive to fantastic talent for drawing a lot of great clients and drawing fantastic talent to our.
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cheryl: i will give the names you will not get because you're taking names from yahoo, capital one, it goes on and on. google wallet only works on samsung, but the braintree works on all devices, correct? you're already winning on that side. >> we work across all devices. the digital wallet would happen first in the world of e-commerce. the in-store experience, there could be interesting but a ways down the road. the place for consumers are looking for a digital wallet type of experience is trying to do e-commerce on the mobile device. 30 to 40% are on mobile already. conversion rates fall by some 75%. we have proven we can completely bridge that gap with our tools, send so i think that kind of experience is going to be requisite for the next decade of
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e-commerce. cheryl: you are competing against other technologies, but what about the bank? are you worried chase, bank of america, they will try to beat you to the punch on mobile payments? we're already using it for banking, what is not to stop the banks from doing the same thing you are doing? >> we are not looking to go displace banks or others in ecosystem, we want to take friction out of the process. we want to make it easier for consumers to buy things they want from their favorite merge mergers. if more of those transactions happen, that is a great thing for those banks as well. we're in a unique position to create that experience make it easy to pay for those things on a single touch across your devices. we do more than $8 billion in volume overall and growing that really quickly. we are far down this path.
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it is great for those in ecosystem if more consumers buy more things from consumers. cheryll you are very nice, very polite talk, what could be your competition. but the real competition, paypal, are you concerned about that? >> i think paypal is a great company, they exist because when e-commerce got started 15 years ago, they really built a great e-commerce program 15 years ago and they have the opportunity to do that because the advent of the internet and e-commerce. it is harder for them to figure out. now the advent of mobile creates a new opportunity to do something similar like paypal did. if we get this right we have the opportunity to do something important to thh next decade of commerce as paypal was to the last bit cheryl.
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cheryl: hopefully cyber security won't continue to be such a big issue. you will prosper and many of us will prosper. interesting story on braintree, thank you very much. >> thank you, cheryl. cheryl: that was one different way of looking at investing. tomorrow on the fox business network all day we will belookio make money outside of the stock market. and on "countdown to the closing bell" we will be heading down to the farm. the alpaca farm. a female can be worth to $20,000. you can tell i don't know a lot about this. but this show, surprise guests. only liz claman, that is pretty cool, good for her. the closing bell will be ringing. we have 17 minutes to go. coming up my next guest
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fundamentals for finding stocks with value prices. the best returns come from the market underdog. also we asked you to tweet us if you would ditch your wallet for an all mobile wallet. here are some of your best answers as we go to break. it's a brand new start.
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cheryl: on a down day like today with the dow down almost 200 points, do you think is a good time to root for the underdog? in stocks that haven't participated in the run-up that we have had. slight value portfolio manager is here. you must actually like a day like today with a 200-point drop because it gives you a chance to pick the lower names. what are you looking at? >> that it's right. long-term value to buyers, the backdrop for consumers pretty optimistic. the course of this year we have added a handful of names the consumer discretionary space and one of the names were very excited about long-term is royal caribbean. something in the headlines most recently with the fire on one of their vessels. a ship ran aground in europe,
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the headline risk associated with the name presenting the opportunity and we have to think longer-term, what is the perception going to be three years from now? we look at the capacity growing three to 4%, pricing is nowhere near where it was in 2007 and the consumers feeling better. we think royal caribbean is a great life for shareholders. cheryl: we've had a lot of concern about the consumers themselves whether it is consumer confidence or consumer sentiment. do you get a little bit concerned talking about royal caribbean when adp comes in lower than expected? >> that was one of the reasons for the selloff. so much related disappointed, it is one day, very strong year-to-date performance. we would not be surprised to see the consolidation continuing.
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the fundamentals for the broader economy looks pretty strong. if you peel back the onion on gdp, headline number 2.4% revised down, but private sector gdp came in at 4% so the real economy is pretty resilient. you look at things like housing prices, consumer sentiment is pretty positive. cheryl: in automobiles. you're looking at the a/v company that did the dashboard for automobiles and you say this is underperforming name. up more than 11% year to date. why is that an underperformer? >> we are contrarian. disappointing on the headline risk, concerns about european auto sales, et cetera. here recently those numbers have been less bad.
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a decent performer for us. we are thinking longer-term. harmon has a tremendous look. generally associate with higher-end luxury vehicles like bmw. they're moving downstream a bit too mid-level economy class vehicles with their infotainment systems. a tremendous opportunity, 20% of cars have infotainment systems. harman is a leader in that, tremendous topline to their story. the backlog at 16 billion, so they have a long runway. cheryl: if you are saying to avoid health care, looking at the balance in your fund, voiding health care, this one you like, why? >> we have been selling out a bunch of device names. but this falls within that bucket. what we like about it? the number one leader in generic
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specialty pharmaceuticals. tremendous pathway for growth in internationally 20% of sales are international. probably six or seven inning of the remediation efforts. we know the ceo is highly involved with those efforts, they spent a lot of money on it. we realize the earnings will be flat this year, perhaps next but tremendous growth opportunity for this company which is a leader in space. cheryl: do you ever see a time where you'd be willing in another fund to launch overseas for some overseas gain? >> we have done that. we are proud this october celebrating a three year anniversary. a small cap focus product with dividend paying names. tremendous opportunity. cheryl: it is always good to invest in this country.
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heartland fund ceo and slight value funds reedit thank you. >> thank you. cheryl: talke talk about finding deals, finding bargains. unfortunately we have a market today that has frankly taken us below that crucial level, 14,000 change. what we are seeing now is a dow down 200 points. just six minutes to go, ontrack to close below 15k. we will take a quick commercial break. don't move, we will take you through the last moments as nailbiting as they are, we will be here for you. [ indistincthouting ]
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♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-seco stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ cheryl: once again we want to update you on the breaking news we have been following throughout the day on fox business.
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materials one of the two sectors we are seeing the most pressure. going back to economic data we saw this morning and the financials because the financials in the top sector so far this year, this is a great way to show you intraday what is happening with the banks. a couple of things happening here today. beside some bad news out of japan and europe was the fact we got the adp employment report. and also had to factor into that kind of a low-volume day. a lot going on, but i will not take you through it. i will hand it over to adam shapiro and lori rothman. lori: a lot of work to do here today. thank you. adam: i am adam shapiro. lori: what a sharp selloff setting the tone, disappointing economic news and interesting
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the market is reacting too bad news. that means the fed will keep their foot on the gas pedal. adam: you don't see the rush to the exit just yet. the dow below 15,000. lori: the vix, that could be a significant interest. adam: nicole, what do you have for us? nicole: the traders do not think we are in correction mode. they believe this is a psychological market every move and every piece of economic news we get related to the fed. the dow up 29, 30 names lower. every sector settling off across the board. we are approaching our session lows going into the close and that is a bearish sign. adam: leading by shares of cliffs natural resources. is that correct? nicole: financials, industrials,
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selling across the board. the highest levels this year, and friday monthly job reports. lori: closing out a day of decline. adam: you can see the dow down 215 points. the s&p, we fell 22 points, the nasdaq down 33 33. now here's a look at the headlines. adp report in the private sector added 135,000 jobs last month, we could than economists estimates. service sector jobs increasing by 138,000. factory jobs an on the other had fell by 6000. lori: setting us up for the may jobs report due out friday. the treasury department announcing plans to sell 30 million shares of general motors stock. they will sell the shares new public offering in conjunction with moving to the s&p 500.


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